Simple economy that produces only four goods and services

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Suppose the information in the following table is for a simple economy thatproduces only four goods and services: shoes, hamburgers, shirts and cottons. Assume all the cotton is used in the production of shirts. Use the information in the table to calculate Nominal GDP for 2015 Shoes Quantity (150) Price ($70) Hamburgers Quantity (125) Price ($3) Shirts Quantity (75) Price ($30) Cotton Quantity (6000) Price ($.80)

Reference no: EM13808492

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